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Osino Resources Corp
Symbol OSI
Shares Issued 103,794,992
Close 2020-11-17 C$ 1.36
Recent Sedar Documents

Osino drills 27 m of 1.22 g/t Au at Twin Hills Central

2020-11-17 07:11 ET - News Release

Mr. Heye Daun reports

OSINO RESOURCES MAKES NEW DRILL DISCOVERY AT CLOUDS TARGET, POTENTIAL FOR SIGNIFICANT INCREASE IN MINERALIZED STRIKE AT TWIN HILLS GOLD PROJECT, NAMIBIA

Osino Resources Corp. has provided an update on the brownfields exploration drilling at the Clouds, Twin Hills West and Barking Dog targets adjacent to and along trend from Osino's Twin Hills Central (THC) gold project in north-central Namibia, where the company holds a dominant 7,000-square-kilometre land position. THC is part of the large, sedimentary-hosted and structurally controlled Twin Hills gold system, which was discovered by Osino in 2019.

Significant assays received at Clouds West and East confirm the discovery of two new zones of gold mineralization, including higher-grade shoots up to 1,500 metres from the eastern edge of THC. The Clouds mineralization occurs along a strong IP (induced polarization) anomaly, which appears continuous along the entire combined 3,100 m strike length.

These new discoveries indicate the potential to double the mineralized strike at THC, thereby also significantly growing THC's contiguous resource potential. A high-intensity drill program has been put in place to drill out the Clouds targets and the gap between THC and Clouds before the end of the first quarter of 2021.

David Underwood, Osino's vice-president, exploration, commented: "The mineralization drilled at Clouds West and East is a very exciting step forward and provides the first indication that economic mineralization at Twin Hills Central may double in an eastward direction to over 3,000 m in strike length. These new discoveries provide a glimpse of the substantial growth potential of the overall Twin Hills Central gold deposit and nearby satellite bodies along strike and on parallel trends. We have now dedicated several drill rigs to the entire Clouds target as well as the gap between THC and Clouds West. At the same time, resource drilling at Twin Hills Central is continuing on schedule with rigs concentrating on the northern and eastern extensions as well as the remaining infill holes. The positive results at Twin Hills West and Barking Dog are the best holes in these areas to date and will direct further exploration early next year."

In addition, narrow but significant intercepts have been returned from both Twin Hills West (16 metres at 1.38 grams per tonne) and Barking Dog (eight m at 1.30 g/t), which provide a clear indication of where future drilling should be focused at these targets. The intercept on the south side of Barking Dog is the first positive result in this part of the Twin Hills system and indicates that the mineralization is developing toward the southeast.

To date a total of 36 holes have been drilled at Clouds, Twin Hills West (THW) and Barking Dog with significant assay results having been received.

Detailed results of exploration drilling

Clouds

The Clouds target is a 1,200 m long gold-in-calcrete, magnetic and IP anomaly that lies 500 m on strike to the east of THC. Two holes were drilled on the west side of Clouds in 2019 with a best intercept of seven m at 0.71 g/t in hole OKD025. An additional seven holes were drilled at Clouds West in the current program with a best result of 27 m at 1.22 g/t (including 16 m at 1.74 g/t) in hole OKD059, 180 m to the west of OKD025. The gold mineralization is steeply dipping to the north and occurs within sheared and altered turbidites, hosting centimetre-scale veinlets of arsenopyrite and pyrrhotite. This mineralization is similar in style to THC.

Two holes were also drilled at Clouds East in 2019 with a best result of 27 m at 0.80 g/t (including six m at 1.25 g/t) in OKD057. In the current program three additional stepout holes were drilled at Clouds East with all of the holes intersecting significant mineralization with a best of 76 m at 0.75 g/t (including 37 m at 0.97 g/t) and 19 m at 1.19 g/t (including eight m at 1.67 g/t).

The intercepts at Clouds to date look narrower than at THC but the widest part of the IP anomaly in the centre of the Clouds target has yet to be drilled. If the mineralization is continuous from THC to Clouds East, the total strike length of mineralization could potentially be increased to 3,100 m.

Twin Hills West

In the 2020 exploration program, four holes were drilled to the south and west of OKD011 (21 m at 0.83 g/t) and OKD019 (11 m at 1.08 g/t) to follow up on the results from 2019. The best result from the recent drilling is 16 m at 1.38 g/t in the southernmost hole (OKD037). This hole appears to have intersected the top of a developing ore shoot and stepout drilling is being planned for early 2021 to follow up on OKD037 and also to test the strong IP and gold-in-calcrete anomaly at THW to the north of the current drilling.

Eight holes were drilled at THW in 2019 with the initial holes (OKD011 and OKD013) orientated on an azimuth of 160 degrees as at THC. However, the drill was turned around to 340 degrees after 50 m of the second hole as it became clear that the geology at THW dips steeply to the south, in contrast to the rest of Twin Hills where it dips to the north.

Barking Dog

In 2019 six holes were drilled at Barking Dog across magnetic and geochemical anomalies with no significant gold intercepts. A further four holes were drilled during the 2020 program over a prominent IP anomaly to the south of Barking Dog. Hole OKD063 on the east side of the anomaly returned a positive intercept of eight m at 1.30 g/t. This mineralization will be followed up along strike and downdip to see if it develops into a wider shoot toward the east.

These drill results have provided validation of the quality of Osino's new IP targets and provide impetus to further accelerating Osino's brownfields exploration program in addition to the continuing resource drilling.

    SUMMARY OF DRILL INTERCEPTS FROM 2020 EXPLORATION DRILLING AT TWIN HILLS PROJECT
 
Hole                      From                  To               Width               Grade
                           (m)                 (m)                 (m)               (g/t)
Clouds West
OKD059 (1)                 143                 170                  27                1.22
incl.                                                               16                1.74
OKD062                     157                 167                  10                0.90
OKD065                                                           no significant intercepts
OKD082                                                           no significant intercepts
OKD086                                                           no significant intercepts
OKD090                      95                 107                  12                0.63
Clouds East
OKD054                                                           no significant intercepts
OKD057 (1)                                                          27                0.80
incl.                                                                6                1.25
OKD093 (1)                  66                 142                  76                0.75
OKD096 (1)                  55                 142                  87                0.62
OKD098                      65                  76                  11                0.61
and                         81                 100                  19                0.96
Twin Hills West
OKD037 (1)                 169                 185                  16                1.38
and                        269                 278                   9                0.52
OKD040                      45                  50                   5                1.30
OKD043                      55                  59                   4                1.96
OKD045                                                           no significant intercepts
Barking Dog
OKD051                                                           no significant intercepts
OKD060                                                           no significant intercepts
OKD061                                                           no significant intercepts
OKD063                      61                  69                   8                1.30

(1) These are unconstrained intersections.
Notes
All reported intercepts are apparent widths rounded to the nearest metre. True widths 
are unknown at this stage. Included intercepts are at 0.4 g/t cut-off, minimum two m 
wide and no more that two m internal dilution.
 

Qualified person

David Underwood, BSc (honours), is vice-president, exploration, of Osino Resources and has reviewed and approved the scientific and technical information in this news release and is a registered professional natural scientist with the South African Council for Natural Scientific Professions (PrSciNat No. 400323/11) and a qualified person for the purposes of National Instrument 43-101.

Quality assurance

All Osino sample assay results have been independently monitored through a quality assurance/quality control (QA/QC) program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10 per cent of all samples submitted. Logging and sampling are completed at Osino's secure facility located in Omaruru near the Twin Hills project. Drill core is sawn in half on site and half-drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 90 per cent minus-10 mesh, split to 350 g and pulverized to 90 per cent minus-140 mesh. Sample pulps are sent to Actlabs in Ontario, Canada, for analysis. Gold analysis is by 30 g fire assay with AA (atomic absorption) finish and automatically reanalyzed with gravimetric finish if Au greater than five g/t. In addition, pulps undergo four-acid digestion and multielement analysis by ICP-AES (inductively coupled plasma atomic emission spectroscopy) or ICP-MS (inductively coupled plasm mass spectrometry). RC drill samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. The RC chips are dried, crushed to 90 per cent minus-10 mesh, split to 350 g and pulverized to 90 per cent minus-140 mesh. Sample pulps are sent to Actlabs in Ontario, Canada, for analysis. Gold analysis is by 30 g fire assay with AA finish and automatically reanalyzed with gravimetric finish if Au greater than five g/t.

About Osino Resources Corp.

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Having achieved the company's initial vision of finding Namibia's next significant gold deposit, it is now focused on rapidly advancing the exciting Twin Hills gold discovery and to make new discoveries elsewhere along the belt. This the company will achieve with Osino's winning formula of combining innovation and drive with technical experience and strong financial backing.

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